[CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx

[Abu22]

https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dHB2dVdiaEltUHAtTWlBcFhXQVBYeGc#gid=0
I have to agree Abu22, those "financial statements" are a joke. Who made them? That "IT guy"?
BTW, I can not find the current balance sheet or the annual report for 2013

Thank you! Agreeing with sometihng so obviouse, yet it seems like a triumph to have another see it in the same light, while the rest of these people posting are just being willingly iggnorant. And defensive of that stance too! It's appauling.

​

Am I the only one that finds this thread to be quite comical?

On the one hand, we have tons of newbie accounts (85% likely to be puppets, but still) complaining that SD has been a poorly run and terrible overall investment.

On the other hand, we have people who recognize the difficulties of running a business and praise Erik for the work he's put in so far. I concur with this group, and I can only imagine some of the hardships Erik is encountering, both on legal and financial fronts as he grows the business.

It seems, however, that the first group doesn't quite understand A) how businesses are run, B) how market conditions (including both currency fluctuations and competition) can influence share price, and C) that achieving 20%+ annual ROI is better than just about any other investment you'll be able to find (either in the "real world" or Bitcoin).

OK, by all means tell us all how you think 'businesses are run' if you truly are implying that a undefined floating salary is a good idea (With no explanation of how it's calculated), how a newly employed and high cost I.T professional is hired while we have both the website domain expiring, huge periods of down time and delayed returns on a site that prides itself on it's instant results. THEN another I.T employee hired, while keeping the old one to 'teach' him/her the ways... Mind you the new employee last monthly payment was of the worth $10,000 ..Compared to the head I.T persons prev cap of (apparently) $5000. If you really think having an issue with this is 'not understanding how businesses are run' then yes, I'd keep your mouth shut because if that's how you plan on running yours... I feel sorry for the fools who follow you off the cliff.

More so if the business model is to only reply to positive feed back (as above with the less than 12 hr response time) while neglecting to answer in full any queries relating to some serious matters surrounding the running of SD...  ( Please, if you really want the full context of the situation, begin reading from page 66, where I initially began bringing up these matters as they arose. That was at the beginning of April, still with no substantial answer. Despite my efforts to keep the questions from being buried in irrelevance of the pointless ' aww Erik's trying so hard leave him alone, we love you' shit posts...So  as you read through the 2 months worth of posts you really s​houdn't be surprised by the increasing level of annoyance.

Indeed, that's a strong indication that they are in it for the verbal abuse they can dump on Erik. They probably have been verbally abused themselves, probably by their closest relatives, and are now transfering that shit to others. They prefer victims that cannot fight back or escape easily as that was exactly what happened to them. I can strongly relate with this kind of behavior as I have done the same in the past, transfering my shit to others unjustly. The way to break that cycle is to not accept any chit anymore yourself, or give back the chit to the ones that gave it, probably some close relatives.

Thanks Sigmund. How about basing your argument on something of substance rather than your numerous appeals to pathos. Seriously, just have a go at refuting any point you like using logic and reason. Not some unbacked worthless opinion you conjure from the most primitive part of your mind. Now don't go have a cry and comeback with some comment that because you where offended the entire substance of all of my posts becomes void.

This goes the same for you Korbman. If you agree that there are questions that still are needing to be answered, but disagree with the approach I'm taking to getting them answered... What would you suggest? Asking politely doesn't yield a response, asking numerously doesn't either. Asking about anything that's going on doesn't seem lead to any response. And the only thing that does seem to get any feedback is the posts of disdain..Which become more and more deserved as the basic underlying questions get ignored and evaded.

So are you willing to confirm that you have in fact been, arbitrarily calculating payments?

I don't know what you mean by "arbitrarily calculating payments."  I explained how I calculate them. On the day that the bill is paid, I use the current BTC exchange rate. For each expense listed, I mentioned the date and if USD then I mentioned the exchange rate used on that day. What's complicated about that?

You said the original I.T guy had a salary of 100 btc a month, capped at $5000 worth. This is not what correlated with the price. Is the new guy at 10k a month now?

Yes, it's the fault of SD. You can easily average the months fluctuations (or the past months) as long as you're CONSISTENT with how you do it...Not pick one day in the month where you cherry pick a good day to pay.

You could do it as all payments calc'd on the 4th, idgaf. The way you're doing it now is frankly, dumb as shit.

BTC, is what has gained value, you starte​​d this up in it's early days, Bitcoin has done well...This is a boat floating on that water.
​​

It's not the share price that is the direct concern, it's the whole handling of the business (From what little you leak about it...But shit you take a lot of probing to get any real answer from...)

So again, I'll ask.
-Has there been any consistency with method of payment calculations, if so what exactly is that. (8th time asked now?)

-Will the 'big announment' be announced this month? Is there even one?

please answer these straightforwardly. It shouldn't need bullet points, colour, bolding and enlarged font... maybe when I get to the 10th ask I'll consider it.

Dynamically choosing a day in the month, each month to be your billing day for individual costs is not consistent. And what is last months big announcement being delayed for?

If you have the time anyone, I wouldn't mind hearing your thoughts on having simple text links advertising like http://bitcoinity.org/markets ... More revenue, and more support for other BTC ventures to get a footing, It's not about money, it's about assisting in strengthening the foundations of BTC as a means of business. (Valid and thoughtout critisims and comments only. None of that, 'I hate ad's therfor NO' - reason WHY.) ...Lol we should start using btcbets.com to guess the time it'll take for a response.

So, Abu22, stop sounding like a cry baby idiot, and sell your shares if you aren't happy how things are being run. I take it, that you DON'T have a controlling interest in sdice. Since I'm talking in percentages, I bet you don't need any fingers to explain how much sdice stock you're hanging onto.

In his defense however, while it's quite often the case that the activist shareholder is a royal pain in the butt and waste of everyone's time, it's nevertheless always the case that the activist shareholder is seen as the troublemaker evil scapegoat. But for that difference between always and quite often there'd be no sound business in the world.

Abu22, isn't all this in their monthly reports? You know, the Income/Expense with PL statement and the monthly balance sheet.

You don't get to make the standards, and you don't even get a say in it. There's other people making the standards. Learn to cope.

Activism, regardless of the context of it. Be it Rosa Parks fighiting for civil rights or this forum where I am fighting for some truth, a slightly grandiose comparative perhaps. But if you beleive the things that I'm asking for are unjust, EXPLAIN WHY. The 'other people making the standards' of business documentation are doing so insuffiencly, and I have every right to voice my (and others) oppions that it is so.
--'The Army documents that they have 'lots of troops' over seas.' Somebody wrote that, setting the standards, learn to cope. NO. That's utterly ridiculus. You clealry must be a fatality of the current system of schooling, being - Parot everything you're told, discourage the use of your own and others critical thinking and beleive always that those with power above you always have your best interests in mind. Please, stop displaying this behavior and perpetuing it in others.


@RationalSpeculator
I've come to the conclusion you're name is intentioally ironic. I get the joke now!

[freedomno1]

Here this is fair game do the math
https://docs.google.com/spreadsheet/ccc?key=0Aolrf3NsfbUrdExVWUNMUnZtQ21kQnZzQmFfRmc0WEE#gid=0

[MPOE-PR]

They hold 1.4 million shares, so 1.4% indeed. Mpex 13 million? (minus havelock 1.4 = 11.6 million)?

Why minus? No minus.

and I have every right to voice my (and others) oppions that it is so.

Every right to voice it, sure. No right whatsoever to expect your voicing has any value or any importance. No right whatsoever to expect any particular venue is interested in having your voicing.

[Abu22]

and I have every right to voice my (and others) oppions that it is so.

Every right to voice it, sure. No right whatsoever to expect your voicing has any value or any importance. No right whatsoever to expect any particular venue is interested in having your voicing.

I find your character to be pitiable and small. All you do here is attempt to make childishly reasoned critiques while offering nothing to the discussion of any intellectual substance.

If you cannot provide any justifications for why the matters I've brought up are of no interest to those with a vested interest in the operations of SDice, then kindly refrain from your delusional demeanor that is making obvious of your superiority complex.

Do you too not wonder where this money is going and why there are these phantom beneficiaries... Or why there is a 7 day+ delay on Mays big announcement (That likely doesn't even exist yet)

If you're not concerned about these matters, I'd love to know why. And no, 'because if Erik doesn't want say he doesn't have to' is not a sound response. If Erik wishes to conduct his business in that manner, privately, he should do a buy back. Whilst he has it offered as a public asset he certainly does hold a level of accountability to those whom he is in business with.

Just tellin' it like it is.

[jonitas]

Do you too not wonder where this money is going and why there are these phantom beneficiaries... Or why there is a 7 day+ delay on Mays big announcement (That likely doesn't even exist yet)

Erik told already that it all depends on the day the bills are paid. Second, he has outlined before what stuff they are working on, if you don't have patience, you shouldn't ever invest in anything. I've told you this before, but you just won't listen.

If you're not concerned about these matters, I'd love to know why. And no, 'because if Erik doesn't want say he doesn't have to' is not a sound response. If Erik wishes to conduct his business in that manner, privately, he should do a buy back. Whilst he has it offered as a public asset he certainly does hold a level of accountability to those whom he is in business with.

Erik said very recently that he is just a shareholder, he isn't paid a salary and has no obligation whatsoever.

Where are the days that you didn't even understand the concept of a pass through! Why don't you go develop something that will blow us away and make SatoshiDice users run to your service? Instead of wasting your time repeating the same questions over and over again.

[lightbox]

Maybe you should look at the actual asset (the one on MPEx) instead of looking at the pass-throughs, which have much lower volumes.

Havelock SDICE Passthrough has same volume as MPEX SDICE, around 380,000/MPEX and 350,000/Havelock past 30 days

Kind of an interesting phenomenon seeing how Havelock holds about 1% or something like that?

Actually over 11% of the "Tradable" shares (1.442/13=11.09%)

[Abu22]

Do you too not wonder where this money is going and why there are these phantom beneficiaries... Or why there is a 7 day+ delay on Mays big announcement (That likely doesn't even exist yet)

Erik told already that it all depends on the day the bills are paid. Second, he has outlined before what stuff they are working on, if you don't have patience, you shouldn't ever invest in anything. I've told you this before, but you just won't listen.

If you're not concerned about these matters, I'd love to know why. And no, 'because if Erik doesn't want say he doesn't have to' is not a sound response. If Erik wishes to conduct his business in that manner, privately, he should do a buy back. Whilst he has it offered as a public asset he certainly does hold a level of accountability to those whom he is in business with.

'all depends on the days the bills are paid'
This then depends on the proof that the bills were actually payed that day, at that time. Otherwise while in cahoot's with my employees I can say wait till the end of the month I'll then pick the best day to have done this tx (after evaling the months flucs). Then writes that on the page 'yeppp 12/5 that was the day I paid em' alright'. Are you that thickheaded that you can't think past one step of your purported answer. A salary for employees does not need to be payed sporadically each month, Nor does it need to be payed to the Head I.T person and the systems contractor for doing seemingly the same thing...Just another deficit to add to the balance sheet to make it appear like the money is going to somebody rather than skimmed out.

This alleged 'the bills are payed on a random day and that's the price' bullshit doesn't even match up with the previous months calculations that are (for the ~100 btc payment {meant to be capped at $5000 value}) ...Tell me what day on April was the sys operators 91.7 btc payed that matches the price of $54.52/btc. Aww was there a convinient typo made while sending out the payments?

- The developer's main initial project is undisclosed right now for competitive reasons, but I hope to have it ready in a month.

- I do not actively monitor this thread, though I probably should. I apologize.

Mind giving us a dash of insight as to what this undisclosed project is themed around? eg. new games etc, site stability, alt coin implimentation, chat feature? I understand if you might wish to be vague but please at least provide some detail of the illusive new project.
Another thing you missed mentioning in your bulk reply was the issue surrounding the 100btc /month payment for the I.T guy/s. You of all people should be well aware of the issue of a flat rate in btc. After working with bitinstant who's main goal is to facilitate a workaround to the constantly fluctating price of bitcoin, you'd imagine you'd take into account the fact that 100 bitcoins are almost certainty not going to have the same spending power each month. And in the case of a massive spike in value that 100 bitcoin could the total profit of the site (while still being inline with the average profit value)
Care to make a comment on any of this please Erik?

The agreement was 100btc with a cap of USD $5k in value. So the next expense will be significantly lower, and will be changed in the near future again as the new head developer takes over.

(context: page 73)

Erik said very recently that he is just a shareholder, he isn't paid a salary and has no obligation whatsoever.

Where are the days that you didn't even understand the concept of a pass through! Why don't you go develop something that will blow us away and make SatoshiDice users run to your service? Instead of wasting your time repeating the same questions over and over again.

Ok, you brick headed shit. Him not taking a salary for SD, therefore has no obligations to run this site with any integrity is retarded logic. His salary is from diluting shares, being an inside trader when he knows things are going to change and from whatever costs he claims to exist.

The market is flooded with assorted btc denominated gambling sites right now. It's not that there needs to be another site that draws players in, SD just needs to stop pushing players away. And in response to your (crudely constructed and context-less) pass through quip, it wasn't to do with not understanding how a pass through works (if you had any reading comprehnsion skils at all) it was to do with the doubling of shares on the bitfunder pass through... Where it turned out to be because deadterra had bought more and was just keeping it at a 1to1 ratio... Not that the contract for that asset forbids any kind of that extra share creation. It could easily still happen, while all we have to rely on is the good nature of deadTerra.

Unless you have something worthwhile to contribute, keep your head low.

[Abu22]

Psst, SD PR... You still there? I know it's probably very easy to get away with doing nothing in your PR role because Erik never checks if anybody is posting here himself...but do you have any further clarifying information? Or are you the once a month active kinda PR..Only active when Erik is online...making your position null and void.





~~le sprite of sashimi wishes you many happys and no sads~~~

[evoorhees]

Psst, SD PR... You still there? I know it's probably very easy to get away with doing nothing in your PR role because Erik never checks if anybody is posting here himself...but do you have any further clarifying information? Or are you the once a month active kinda PR..Only active when Erik is online...making your position null and void.

The IT guy is paid $10k per month. It's typically paid on the first couple days of the month, using the exchange rate at the time of payment.

In general, I pay bills when I get them and use the exchange rate at the time of payment, but I'll pay them whenever I wish. Deal with it.

His salary is from diluting shares,

I've never diluted shares. If you're referring to the 3% sold a few months ago, that was non-dillutive, and those weren't even my shares. I was selling them for another private owner. In fact, my position net increased, because I bought more than 3% from him and only sold 3%.

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

[Korbman]

His salary is from diluting shares,

I've never diluted shares. If you're referring to the 3% sold a few months ago, that was non-dillutive, and those weren't even my shares. I was selling them for another private owner. In fact, my position net increased, because I bought more than 3% from him and only sold 3%.

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

I've got him on 'ignore' ..and it's amazing how small the thread pages are after that.

He may have a good point or two on occasion, but it's so far buried in a wall of troll text that there's never really a point in reading it.

[Abu22]

Psst, SD PR... You still there? I know it's probably very easy to get away with doing nothing in your PR role because Erik never checks if anybody is posting here himself...but do you have any further clarifying information? Or are you the once a month active kinda PR..Only active when Erik is online...making your position null and void.

The IT guy is paid $10k per month. It's typically paid on the first couple days of the month, using the exchange rate at the time of payment.

In general, I pay bills when I get them and use the exchange rate at the time of payment, but I'll pay them whenever I wish. Deal with it.

His salary is from diluting shares,

I've never diluted shares. If you're referring to the 3% sold a few months ago, that was non-dillutive, and those weren't even my shares. I was selling them for another private owner. In fact, my position net increased, because I bought more than 3% from him and only sold 3%.

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

So who is the systems operator who appeared in April along with the head I.T person and also in the preceding month? Why has the pay doubled from the original 5k cap?

Why did you hire a PR who is about as active as you...This defeats the purpose of them.

Why do you still avoid giving any mention to the 'announcement'. It's quite over due, is your word really that little?^{Not that it isn't self evident enough.}

Are you going to provide any tx records as payment proof.

My mentions of dilution, inside trading etc. where not accusations of your actions, they are simply matter of fact things that are available to only you as an alternate to a paid wage.

These threads would be shorter, my responses more polite and the general overall benefit of SDice share holders would be better off... If you replied in a reasonable time frame with answers that covered the questions at hand. Not your current method, of a 2 minute write-up giving no detail and expecting that to be an acceptable answer to the various raised important and multifaceted issues.

[EskimoBob]

Evorhees, can you please publish SDICE balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity. As of May 31 is OK.

Thank you.

[madmax_ger]

Evorhees, can you please publish SDICE balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity. As of May 31 is OK.

Thank you.

+1 if you dont mind telling

[mewsie]

Evorhees, can you please publish SDICE balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity. As of May 31 is OK.

Thank you.

+1

I'm looking to invest but would like to see up to date financials to have a better understand of where SatoshiDICE is at...

Thanks,
Eric


BTW - having read through this thread over the past few hours to get more background on what has been going on, regarding Abu22:

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

Quite true, my eyes started bleeding a little

[freedomno1]

Evorhees, can you please publish SDICE balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity. As of May 31 is OK.

Thank you.

+1

I'm looking to invest but would like to see up to date financials to have a better understand of where SatoshiDICE is at...

Thanks,
Eric


BTW - having read through this thread over the past few hours to get more background on what has been going on, regarding Abu22:

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

Quite true, my eyes started bleeding a little

Ssh it was peaceful
Well actually always room for legit questions

[Abu22]

BTW - having read through this thread over the past few hours to get more background on what has been going on, regarding Abu22:

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

Quite true, my eyes started bleeding a little

Well, kindly look back to where I instantiated my core questions (all of which are yet be answered in a suitable manner). My tone of writing should not make the content of it invalidated... reading so shallowly into it will always yield an inferior understanding of whats it aims are/were.

...

I 100% agree that there is always room for legit questions, and the showing of support for them to be answered...when they become ignored. +1 to to those who see that the information being supplied is insufficient.

(SD PR, halo??)

[romerun]

I keen to hear about the new games/development. I'm no interested in the IT salaries as they are the least important. The site and service are solid in the past one and half month, sdice employees are deserved of what they're paid.

[evoorhees]

Quick announcement - This month is progressing well with site performance. I am going to take this opportunity to have SD retain up to 4k in earnings for June at the end of the month. This means that dividends on earnings up to 4k won't be paid for June (ie - if the site earns 5k, then dividends will be paid on only 1k of earnings).

Before you yell and scream, let me explain the purpose.

Currently I have, personally, provided an ongoing interest-free loan of roughly 6100 btc to SD that is used by SD as its betting pool. This is money that is at risk of hacks and losses, but I've permitted SD to use it because it needed a capital pool. The risk to me was tolerable when Bitcoin was $10-12 each. Now, however, that's a ton of money, and I would like to withdraw the loan.

Thus, earnings for this month (June) will be retained by SD for the purpose of replacing this pool. The pool needs to be roughly 3-4k btc, so the site is on track to earn this amount this month. It's thus a perfect time to do the swap.

Note that because these earnings are retained and owned by SD, if and when they are ever paid out or released from SD, they will go to all shareholders. Thus the betting pool held by SD will from now on be an asset of SD instead of a liability owed to me.  Therefore MPEX holders will, after June, own 13% of the betting pool fund assets. If the site is ever closed down, sold, etc, these funds would be liquidated out to shareholders.

Hopefully that's not too confusing. Please let me know if you have questions about it.

Kind regards,
-Erik

[evoorhees]

Evorhees, can you please publish SDICE balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity. As of May 31 is OK.

Thank you.

+1

I'm looking to invest but would like to see up to date financials to have a better understand of where SatoshiDICE is at...

Thanks,
Eric

I agree the financial statements I create in google docs aren't ideal. I'm not an accountant, after all. I will find someone by the end of June to prepare more formal statements, so that starting in July the finances are documented properly. It won't be anything elaborate, just something more professional. If any of you have an example of simple financial statements which you'd like me to use to model the SD statements, please link them here or send to me.

[Korbman]

I'm with you man, accounting sucks.

if I had known beforehand a Business Admin BA and an MBA was 60% accounting I would have told them all to....

....keep up the good work because accounting can be difficult.